Asia
In Asia, Silicone Emulsion prices started 2024 on a weak note. During Q1, demand was subdued across key industries like construction and electronics, while high inventories and global economic uncertainties kept pricing under pressure. The trend continued in Q2, especially in South Korea and China, where overproduction, logistical disruptions, and plant shutdowns further pushed prices downward.
Although Q3 brought a short-lived recovery mainly from rising electric vehicle production and construction activity the momentum faded quickly. Seasonal slowdowns and declining raw material costs in the latter half of Q3 and into Q4 led to a steady fall in prices. By year-end, the market faced continued oversupply and cautious buying behaviour, keeping prices consistently low despite isolated sectoral demand like EV manufacturing.
Europe
Silicone Emulsion prices in Europe began 2024 with moderate strength. Q1 and Q2 were shaped by rising production costs, including high energy prices and expensive raw materials, which pushed prices up, particularly in cosmetics and personal care applications. Disruptions like flooding and plant shutdowns further constrained supply. However, from Q3 onward, the market saw a downward shift.
Weaker economic activity, falling demand from construction and automotive sectors, and inventory corrections among downstream industries led to price reductions. By Q4, even though hybrid vehicle production remained strong, reduced consumer confidence and improved logistics eased price pressures, resulting in a noticeable decline compared to earlier quarters.
North America
In North America, Q1’24 showed a slow recovery in demand, especially from the automotive and electronics sectors, which kept Silicone Emulsion prices relatively firm. However, by Q2, prices began to decline due to oversupply, slowdowns in key markets, and destocking trends.
The downward momentum reversed sharply in Q3, with a strong surge in demand from the automotive and semiconductor industries, coupled with ongoing supply issues such as port congestion and labor strikes. Still, this rebound was short-lived. In Q4, prices dropped again as supply normalized and seasonal factors reduced demand. Despite steady automotive activity, overall consumption was affected by cautious purchasing patterns and economic headwinds.